Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.
Issue link: https://texasrealestatebusiness.epubxp.com/i/591312
24 • November 2015 • Texas Real Estate Business www.REBusinessOnline.com NEW MIXED-USE PROJECT TO OPEN IN AUSTIN IN 2018 AUSTIN, TEXAS — GroundFloor De- velopment and Prescott Group have announced plans for Saint Elmo, a mixed-use project set to open in Aus- tin in the frst quarter of 2018. De- signed by Andersson-Wise Architects and located on South Congress near Ben White Boulevard, Saint Elmo will include 225,000 square feet of ofce space and a 40,000-square-foot in- door-outdoor marketplace. Ground- Floor Development and Prescott Group are the master developers of the $120 million project. In Novem- ber of last year, the Austin city coun- cil approved the rezoning request for the project. Construction is slated to begin in mid-2016. Andersson-Wise Architects is the lead architect of the project, KBGE's Chad Kimbell is the civil engineer, David Hocker of Hock- er Design is the landscape designer, Juice Consulting's Heather Wagner Reed will oversee public relations and marketing, and Helms Workshop is the strategic brand design studio. EXCEL FILTERS TO EXPAND INTO 6.8-ACRE SITE AT EXPO BUSINESS PARK AUSTIN, TEXAS — Trammell Crow Company (TCC) has been appointed as the developer for the construc- tion of a 57,600-square-foot, Class A build-to-suit industrial building. The project, Expo 12, will be Excel Filters' new satellite manufacturing facility in Expo Business Park, a new indus- trial park located in Southeast Austin. TCC and Clarion Partners recently sold the 6.8-acre site for Expo 12 to a private investment company, who is leasing the building to Excel Filters. Construction on the project has com- menced and will deliver in May 2016. Excel Filters will expand its opera- tions from Los Angeles into Austin. Upon completion of the new building, Excel will staf the facility with exist- ing personnel and new local hires. Expo 12, located in the four-building second phase of Expo Business Park, will include 28-foot clear heights, 13 dock-high doors and truck courts. Expo Business Park spans 37 acres and is located at 6231 E. Stassney Lane in the newly established Triple Freeport Zone. Mark Emerick, John Barksdale, Ace Schlameus and Darryl Dadon with CBRE's Austin ofce represented both TCC and Excel Filters in the deal. Trammell Crow Co., founded in 1948, is a developer and investor in com- mercial real estate. The company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of June 30, 2015, TCC had $6 billion of projects in process and $3.7 billion in its pipeline. A U S T I N & C E N T R A L LEVCOR, INC. 1001 West Loop South, Suite 600 Houston, TX 77027 www.levcor.com RETAIL SHOPPING CENTERS THROUGHOUT TEXAS Sherman Waco Houston Del Rio Eagle Pass Pharr Laredo El Paso LEASING INFORMATION Dan Smith 713.268-3716 dsmith@levcor.com AMAZON TO OPEN FULFILLMENT CENTER SAN MARCOS, TEXAS — Amazon has acquired a 100- acre site on McCarty Lane in San Marcos to develop an 855,000-square-foot fulfllment center. This will be Ama- zon's ffth fulfllment location in Texas. Kit Corbin of En- dura Advisory Group represented the undisclosed seller, and Ed Cross of San Antonio Commercial Advisors repre- sented Amazon in the transaction. The city of San Marcos and the Texas Department of Transportation will cooperate with the developer of the Amazon facility to provide road improvements. Atlanta-based Seefried Industrial Proper- ties Inc. is overseeing the project, alongside Houston-based engineering frm Jones & Carter Inc. ENDEAVOR TO INVEST $27.5M IN RENOVATION FOR SAN MARCOS SHOPPING CENTER SAN MARCOS, TEXAS — Endeavor Real Estate Group has announced plans to invest $27.5 million to revamp Springtown Shopping Center, a retail center with low oc- cupancy along I-35 in San Marcos between Austin and San Antonio. Endeavor purchased the center in November 2014, at which point it was 10.5 percent occupied and split among four separate owners. The developer has signed leases with two anchor tenants. EVO Entertainment Group leased 34,000 square feet to build a dine-in luxury movie theater, bowling alley and event venue called The Spot. Gold's Gym has leased 42,000 square feet.